Raiffeisen Bank announce CHF 1million executive pay cap

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An announcement to limit the annual remuneration of top management to CHF1 million (around $1million) from July 1 was made at the bank’s general meeting in Crans-Montana.  Most delegates at the Raiffeisen meeting were not in favour of the 2018 remuneration report. However, they voted in favour of the new compensation framework for 2019. In April, the bank stated that it will cut up to 200 jobs to save CHF100 million ($100 million) this year.

Swiss info, Melanie Duchene, June 16th 2019